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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 09, 1992
Page
26
The Federal Energy Regulatory Commission imposes rules to let pipeline companies sell gas at negotiated rates while ensuring equal transportation quality. The Bush administration hails the move as expanding market forces in natural gas supplies.
Pioneer Hi-Bred International Inc will donate 1.5 million dollars to Iowa State University's College of Agriculture for endowed professorships and student scholarships in agronomy. An additional 100000 funds crop science equipment and another 100000 supports the Durham Center for Computation and Communication. The total to ISU reaches 2 million with a prior 500000 endowment for maize molecular genetics research in biotechnology.
Eastern Iowa stocks fall sharply for a second day while investors hunt bargains. The Dow closes down 32.20 at 3181.35 amid heavy volume after a 50 point mid day drop. Gillette leads gains, International Paper and Procter & Gamble decline, IBM and Digital Equipment rise on upbeat signals.
Caterpillar chairman Donald Fites told shareholders the plan to hire permanent replacements for striking workers is not to break the UAW. Union leaders and about 200 protesters gathered outside the Wilmington hotel as a tense, non-debatable session occurred inside.
Linn County February new construction contracts rose sharply driven by residential work totaling 8.16 million dollars, more than doubling February 1991 levels while Johnson County saw a dramatic 75 percent drop. Year to date Linn County shows a 12 percent gain. Johnson County down 79 percent overall. Residential contracts in Linn County rose over 100 percent year over year.
An annual report card on the economy awards Iowa an A in business vitality a B in economic performance and a C in development capacity. Brian Dobson of Enterprise Development notes Iowa shows revived business vitality amid a national recession while regional differences persist and the national economy escapes simple definition.
Sen. Patrick Leahy and other lawmakers press for USDA consolidation to remove redundancy in agriculture programs. Secretary Edward Madigan testifies that steps are underway to reduce waste and promote one stop shopping while Sen. Lugar demands GAO review and closure of 53 costly field offices.
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